Illustration: Sarah Grillo/Axios

Onex Partners agreed to acquire WestJet Airlines, Canada's second-largest air carrier, for C$3.5 billion (~$2.6 billion). The C$31 per share price represents a 67% premium to Friday's closing price.

Why it matters: It would be the largest-ever private equity takeover of an airline. It also would fulfill a long-held ambition for Onex, which failed in 1999 to buy Air Canada and in 2007 to buy Australia's Qantas Airways.

  • The bottom line: "It's a deal that no one saw coming. Not aviation experts, not analysts following the company, not even the vast majority of staff at the airline. There wasn't even a whiff of speculation. Even at WestJet's annual meeting last week, the question for WestJet was whether it might snap up a smaller rival, not if the Calgary-based carrier was up for sale," write CBC News' Kyle Bakx and Tony Seskus.

Go deeper: Millennials spark a pilot comeback

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Obama: The rest of us have to live with the consequences of what Trump's done

Photo: Joe Raedle/Getty Images

Campaigning for Joe Biden at a car rally in Miami on Saturday, Barack Obama railed against President Trump's response to the coronavirus pandemic, saying "the rest of us have to live with the consequences of what he's done."

Driving the news: With less than two weeks before the election, the Biden campaign is drawing on the former president's popularity with Democrats to drive turnout and motivate voters.

Murkowski says she'll vote to confirm Amy Coney Barrett to Supreme Court

Sen. Lisa Murkowski. Photo: Alex Edelman/AFP via Getty Images

Sen. Lisa Murkowski (R-Alaska) said Saturday that she'll vote to confirm Judge Amy Coney Barrett to the Supreme Court on Monday, despite her opposition to the process that's recently transpired.

The big picture: Murkowski's decision leaves Sen. Susan Collins (R-Maine) as the only Republican expected to vote against Barrett.